I'm trying to get a better understanding of TA. It looks like you guys do such a lot of work on it, and have many followers, but whenever I do any basic analysis, the success of TA does not appear to be any better than examining owl stomach contents.
On 1 July, when LYC was trading at $5.81 you stated LYC "should test 594 in the next two trading days". In fact, it never got back to $5.81 for the next 3 trading days, closing at $5.62 on 6 July.
In the same post you say "Next target is 594, which if it breaks brings 636 into play". That sounds extremely exacting, very brave predicting indeed, but it went from that $5.62 almost in a straight line to $6.50+ in a week without stopping to smell the roses.
Since that high of $6.55 on 13 July, it has swooped back down well past both of your targets and swooped back up into the $6.40s today.Still, I love some of the graphs, and most are much more attractive than owl stomach contents.
Technical, page-390
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Last
$6.56 |
Change
0.090(1.39%) |
Mkt cap ! $6.131B | |||
| Open | High | Low | Value | Volume |
| $6.53 | $6.58 | $6.51 | $14.95M | 2.285M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1500 | $6.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.56 | 6919 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$6.55 |
Change
0.090 ( 1.39 %) |
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| Open | High | Low | Volume | ||
| $6.53 | $6.58 | $6.51 | 732559 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| LYC (ASX) Chart |